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economy and do what's best for our people. >> tom: the president aims for a big budget deal, not a stopgap measure, before the end of the month. it's "nightly business report" for tuesday, july 5. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. with the united states rapidly running out of borrowing room, the president is calling on republicans and democrats to move quickly. mr. obama has called leaders from both parties to the white house for a meeting thursday and susie, he's urging them to think big. >> susie: tom, with the calendar pressuring politicians to negotiate a plan allowing the u.s. to borrow more money, the president wants a deal cut in a few weeks and says it should not be a temporary one lasting only a few months. >> tom: the budget bargaining now heads to the white house with less than a month before time runs out. darren gersh reports. >> rep
says that mr. obama wants big government, not a big economy. >> republicans have tried to persuade the president of the need for a course correction. but weeks of negotiations have shown that his commitment to big government is simply too great to lead to the kind of long-term reforms we need. >> question. when the negotiations started, president obama was looking for a big deal. $4 trillion in spending cuts and tax hikes. has the big deal turned into a big fizzle, pat buchanan? >> it has not, john. did it for awhile but now it is back, and we're talking about something close to adds 4 trillion deal. the president is deep in negotiations with boehner and cantor, and here are the terms. you raise the debt ceiling, at the same time there are 3 trillion in cuts, and they deal with social security and medicare. there is no revenue enhancement. however, you get together some kind of commission which what it does, john, it drops tax rates in return for giving away these deductions, exemptions, allowances, breaks, which in effect is pure reaganism. there's one problem with that. there's a
>> susie: a big triple-digit rally on wall street, thanks to big profits from corporate america and a breathrough in those debt talks in washington. >> tom: then, after the closing bell, apple is top banana in the company reports staggering earnings as consumers buy a record 20 million iphones. it's "nightly business report" for tuesday, july 19. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. a banner day for blue chips. the dow surged more than 200 points, its best one-day performance this year. at the close, the dow added 202 points, the nasdaq rose 61 and the s&p 500 up 21 points. then after the bell, susie, apple did it again, posting stunning earnings. >> susie: tom, we're running out of adjectives to describe the amazing growth at apple. it earned $7.79 a share in its fiscal third quarter, crushing estimates by almost $2. revenues also came in better than expected, up 82% to $28.5 billion. and that growth comes as consumers keep s
," washington. >> tom: if richard cordray is confirmed, part of his job will be checking the books of big banks. we'll get a better idea of how they're doing in the coming days when many report quarterly earnings. by the end of this week, 40% of financial firms in the s&p 500 will have reported their numbers. as a group, the results are expected to be downright awful. erika miller reports. >> reporter: banks are the heartbeat of the economy, so their health is often used as a barometer of the recovery-- and the stock market. unfortunately for investors, bank analyst jim sinegal sees plenty of uncertainties ahead. >> in addition to macroeconomic uncertainties, with unemployment high, with g.d.p. growth slow, will the banks be able to add new loans? that's number one. number two is the regulatory uncertainty. we are still not sure where capital levels are going to fall out, and how that's going to affect profitability. >> reporter: as for profitability, diversified financials are expected to be the worst performer this earnings season-- down 94%. this is the group that includes bank of america, j
it's now clear big decisions will have to be made soon. >> by putting social security "on the table," the president is sort of calling the g.o.p. bluff. "okay, here is social security. i've told you medicare will be on the table. are you willing to put revenue increases on the table?" >> the white house believes a $4 trillion agreement is within reach. whether it can be reached will become much clearer this weekend. darren gersh, "nightly business report," washington. california is making progress on its rating. standard and poors today raised its outlook for the golden state from negative to stable. the reason, california was able to pass its budget on time, closing what was once a $27 billion gap. here are the stories in tonight's "n.b.r. newswheel." two encouraging reports about the job market-- payroll processing firm adp says, by its count, american businesses added 157,000 jobs in june. economists were expecting many fewer. that's encouraging for an upside surprise when the labor department reports june job numbers tomorrow. also, fewer people filed for unemployment benefits l
international, who was the editor at the time the found hacking happened. it is a big acts, but i do not think it solves the real issue. >> i am satisfied with rebecca, her leadership in this business, and her standard of ethics, her standard of conduct throughout her career. >> with big consumer company after big consumer company pulling their advertising, the fear of being tainted with the association -- by association with the paper, the future looked bleak. >> it is going to be investigated and there must be a full judicial dead -- judicial- led public inquiry. >> the other paper purchased by rupert murdoch in 1969 was quoted the sun city -- was "the sun." >> police in britain say they have identified four thousand possible hacking victims and hundreds more have contacted them saying they too may have been targets. we have the latest on the investigation. a warning, this report contains flash photography. >> this extraordinary affair might have spelled the end for britain's biggest newspaper, but the repercussions will continue. the police with the commissioner facing questions. the milita
in britain, news corp. has made big business mistakes in america. it owns dow jones -- it bought at dow jones in 2007 and two years later it was worth $2.8 billion, less than their purchase price. myspace was bought for $580 million in 2005, sold for $35 million this year. but one of their largest shareholder still has huge confidence in the company. >> you have seen a business that has evolved, moving from newspapers and to other media, and moving more into a fee- based business model as opposed to advertising based. i think there is an awful lot of good steps that have been made, and i am very impressed overall with the company's success. >> rupert murdoch is back in america, more comfortable perhaps in a country where big investors still back him as the chief executive. >> here is a man, even though he is 80 years old, warren buffett is 80 years old and he is doing well, sumner redstone, and these are men with long track records of great success. to not want some of that wisdom in there, i think, would be a mistake. as will rogers said, good judgment comes from experience, and a lot of tha
>> i am still pushing for us to achieve a big deal. >> without serious spending cuts, without real reform of our entitlement programs, this problem is not going to be solved. >> susie: republicans and democrats hold closed-door meetings, but not with each other, as both sides maintain a hardline stance on debt ceiling talks. >> tom: the white house deadline for a deal is one week away. the pressure is building as a warning is issued for life insurers holding government bonds. it's "nightly business report" for friday, july 15. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. just one more week until an important deadline, july 22. tom, that's the date when president obama wants a debt- ceiling deal in hand. >> tom: susie, an agreement by a week from tonight gives lawmakers time to write and vote on new legislation before the august 2 deadline. >> susie: it looks like
trillion over the next ten years or a big budget deal, $4 trillion with tax increases also over the next ten years. do these scenarios fill out a possibility or are they off the table. >> i think it's still going to ultimately be one of those three buckets. there's the first model which is basically politicians come together, can't hash out a deal and put in budget profits reform with targets where they'll come up with savings later or some kind of spending tax, promising to cut spending but they don't still in the policy. that's probably too close to what we've seen in the past or politicians say they'll do something but they'll get specific about how. the other two deals are more specific policy changes that will be included with the debt ceiling increase, either a smaller deal in the neighborhood how far 1 to $2 trillion dollars and stays away from the hard issues, no taxes, no social security or healthcare or the big deal we've been calling it to fix the deficit in this situation. that's what president obama and leader boehner have talked about. that's the group of senators the gage
today for as big a deficit agreement as possible. that will require leadership and hard decisions, the president said, and not just from politicians. darren gersh reports. >> reporter: before he sat down with congressional leaders, the president said both parties talk tough about fixing the nation's debt problems, but they still aren't willing to come to the table and make hard sacrifices. and he added another group to that list: the nation's business leaders. >> the business community is a lot like everybody else, which is we want to cut everybody else's stuff and we want to keep our stuff. we want to cut our taxes, but if you want to raise revenue with somebody else's taxes, that's okay. and that kind of mindset is why we never get the problem solved. >> reporter: but house speaker john boehner says there is a reason businesses shouldn't be asked to give more now. >> our disagreement with the president is not about closing loopholes. none of us are fond of loopholes. our disagreement is over the idea of raising taxes on the very people that we're asking to create jobs in our cou
involved. it's too big. it's too much trauma in our state. i thought the court would not be able to disentangle themselves from the drama. >> 16 years after the massacre, this court ruling about the three men who were turned over to the serbs, could have implications for similar cases against the dutch state. peer -- peter biles, "bbc world news." >> now the concern for the thousands caught up in draught. >> that's right. the draught from east africa is a human tragedy from unimaginable proportions. rains have failed for the past four seasons and more than 10 million people across eethyobeya, so man ya, are facing dire shortages of food, shelter, and medical support. >> day after day, mile after mile, they walk and walk. these are the people of the draught. but they're also escaping from somalia's endless civil war and they trek vast distances across land where it no longer seems to rain. some are sick, like alio who's just 6 months old. some will die along the way. these people we came across today are all from the same village in somalia. what they carry is all they possess. >>
to more than two or three people. if you are talking to an audience, a big audience in a theater or a movie audience, but with television, if there are more than two or three people in the room, they're talking to each other, they're not listening to you. that camera lens became sitting and like talking to you. that is what i loved about it. tavis: there is some much stuff in this book, and there are several things i found fascinating and funny. fascinating, you apparently love crossword puzzles. >> absolutely addicted. i carry them around my purse. i am stuck on the one, the car driving me here, about halfway through but i did not finish. i said i will finish on the way back. tavis: how did you develop a love for the crosswords? >> i don't know, i love words. i am not into numbers that much, and there are people looked on that, but crossword puzzles. if i get a puppy and a paper trained him, all of a sudden i would open the paper and would be a cross word, no, you cannot go on that. tavis: are you pretty good a crossword puzzles? >> i am not a wizard, but i do them so much, pret
. trading volume was light. 770 million shares on the big board, 1.6 billion on the nasdaq. despite today's job worries and a shortened trading week, the dow was positive on the week rising 0.6%. the nasdaq gained better than 1.5% since last friday. and the s&p 500 also ticked a fraction higher, up 0.3% on the week. >> susie: that dismal jobs report has everyone asking-- how do we fix the problem? joining us with some thoughts mark zandi chief economist at moody's analytics. >> mark. >> hi, susie. >> how do we put americans back to work? >> well, i think this will put the onus back on congress and the administration to do at least a few more things to try to help the job market the next 6-12 months. one would be to extend the current payroll-tax holiday which if there is no legislation will expire at the end of this year, so that's a likely thing they could do. there is also a suggestion of providing more help to state and local governments. as you know, as we see in today's job numbers a big chunk of the jobs lost is occurring at state and local governments under pressure and cutting job
, the risk of a u.s. default is also a big worry for many older americans. they're conditioned about their monthly social security payments. now we placed several unanswered calls expecting social security checks on august 3. an additional 27 million beneficiaries expect payments later in the month. we caught up with a couple of them to see what's on their minds. >> it's a scare tactic. i mean because there's so many other things that they can stop before they stop social security checks. >> whether it is the republicans or democrats win this game, you have to remember next year is an election year again. so they're posturing themselves. and they're playing a game that is kind of tough. but again they have to get something passed sooner or later. >> susie: so far, the treasury has not provided details on how the government will decide which bills to pay if the borrowing limit is not raised. executives from the country's biggest banks met today with treasury officials in new york ahead of tuesday's deadline. they discussed how debt auctions would be handled if congress fails to raise
&p 500 down about six points. the losses came on heavier trading volume-- 923 million shares on the big board and over two billion on the nasdaq. >> susie: joining us now to put all these developments in perspective, mohamed el-erian, c.e.o. and co-chief investment officer of pimco, the world's largest bond fund. >> a lot to talk about. >> there's a lot >> susie: let me begin with the fed. do you think the fed is going to come out with another round of stimulus? is it a good thing? >> well, they're divided. in the minutes some people said perhaps we need more stimulus. others said oh, no, not too fast. worry about inflation. i think what the fed is telling us for sure is two things. one is revised downward growth projection, not just for 2011, but 2012, tells us that the slow down is more than cyclical. second to they're acknowledging they're driving in the fog. there's a lot of disagreement as to what the outlook looks like, and whether policy should be changed or not. so basically what they're telling us is, we will act. we just don't know what we're going to do. >> susie: is this a g
will have consumption and demand big enough to help continue, assuming the political environment is stable, not only into the country, but around it. i know you interviewed secretary kissinger on china. that is the number one fear. the number one fear is the stability, either inside or outside of china, will not be good. if the condition remains like it is today, not to mention there are a lot of flash points out there -- you heard the latest news about the china sea issues. there are a lot of issues going around. but assuming the leadership in china is able to manage all that and one would hope that they could and one would have high hopes that they would, this to growth will go on for two days to three decades. but the first statement you made in the show, i actually think that, as americans, i am always a positive thinker, as you know -- i think we're just going through relativity. we are relatively speaking not seeing what we have seen in the last 20 years are 25 years. going forward, there needs to be structural changes, reinventing ourselves, but you still -- china came from nothing.
that is high cotton. you're hanging out with tom hanks and julia roberts. >> that is big time. they have an entourage. they are walking around with their cert. i have two image awards. mine are heavier. tavis: tell me about this character that you play in "larry crowne". neighbor.s larry's he is the big time dude in the neighborhood because he won the lottery. they have a daily are still. tavis: a daily yard sale? >> so i am having with people and that is thing. throughout the movie. i am trying to be people with the price. i do not care. you are trying to buy an old speed racer lunchbox, i am trying to get $100. tavis: did you ever do the yard sale thing? >> i would like to go buy them sometimes to see what people have but if never tried to sell my old stuff. i have a yard sale, here they come. get the good stuff out there. tavis: i was about to ask, if you had a yard sale, what do you have to put on display? >> it is always a little recycling, clothing and suits and the kind of thing. some golf and equipment. i have a lot of golf clubs i would give away. and you give away the kids' st
off 7.5 points. volume was light, 762 million shares moving on the big board and 1.6 billion shares traded on the nasdaq. >> susie: investors may have a long list of worries, but it's hard to tell looking at the flurry of new stock offerings this week. they include dunkin brands, the parent of dunkin' donuts, which is also the week's largest deal. if all twelve companies on the calendar go public, it will be the best showing in almost five years. erika miller looks at what's behind this trend and what it means for investors. >> reporter: if there's one thing the stock market hates , it's uncertainty. so why would companies like dunkin donuts rush to go public this week of all weeks? there's lots of anxiety in financial markets about raising the nation's debt ceiling. and if a deal is not reached by next week, stocks could be headed for serious trouble. but i.p.o. expert richard peterson says dunkin and others are focused on the positives. >> the conditions are ripe for companies to raise capital in this environment, where the economy is growing, albeit at a slow rate. >> reporter: d
, but when i got together with the cast. family dinner is a big part of our show. the first thing we shot on the pilot, the first day, was the family dinner scene. we had to kind of pretend we had a relationship, but they are so good, these actors, and having done a long series, they are also so good as people. they are people i want to spend some time with. tavis: i had no idea your first answer would include a comment about those family dinners. as is often the case, i am in my dressing room and my producer an assistant, everyone in that room said the best thing about the show in every episode, you guys meet around the dinner table. it is a powerful thing. what do you make of that? >> i think there is a cultural thing, not only in this country but probably throughout the world. everybody did not have a family like the ravens. everybody did not have that opportunity. but they had family or wish they had that output. it is an adult family drama. family drama usually involves an argument, which is siblings and parents and kids. i think the real secret to it is the show has a very procedura
wantsto be speaker. his life. e highest priorit9 in he's achieved it. the other big difference john boehner was once a committee chairman. he pushed legisla$ion throughl he knows how to make deals@at the coittee levels and he believes in the houseworkiwn. righting legislation in the hands of a tight-knit group of peoplea"ound the speake dennis hastert ntued that, nancy pelosi continued that. john boehner is unwinding that concentration of power, making the house a@differt place. >>i think he's got a ot. >> at @@becoming the president? >> yes. >> i don't see that, john. >> just thk about it. >> i just think there are other people are. >> his brand ofrepublicanism would carry. >> but i n't think has the@ -- either the bition or personality@todo that. >> he likes golf too ch! go on campaign trails. >> what about eisenhowe"? eisenhower liked golf a lot >> exit @@estion,@s hn boehner brout civili back to congress, yes or no?@ >> i think to a great @@extent. he is morealmer, asonable, rational guy. he done a good job dog that. >> he's la back, but he's representing a republican caulk tha
campaigned in one city this week. what is at stake for him? >> that is right. the big jet -- the big government juggernaut, if you like. he is responding to the intense wave of international criticism being directed at the country at the moment. the u.s. congressional committee is voting that aid will be cut off to sri lanka unless they show a move away from wartime atrocities. ofy're putting a lot resources into this. >> two opposition groups have claimed harassment by the ruling party, which it denies. it will these elections be free and fair? >> that is a big question about that political -- about that. proper transport is not been provided to voters to go to the polls. there are huge rural areas with no transport whatsoever. refugees returning and trying to rebuild their lives, they may not be able to vote. there have been some nasty incidents reported also. a main -- a main group in the north, the tamela alliance, some have said there has been intimidation. a dog was decapitated and its head was left on the gate of one of the candidates, allegedly. the government denies any wron
shot and a childhood. we really became brothers as opposed to big brother, little brother just hanging around and doing stuff. we have never really thought about the racial element as something that was anything but a binder. tavis: it was not just a relationship between you and michael but you ended up bringing on -- let me put it this way, his immediate family ended up being your extended family. they came to live with you at a certain point. >> a year after i met him, social services was considering taking the kids away from their mom. there was all kinds of abuse. what i did is that i took the three oldest children and they came and live with me in an apartment in south philadelphia for the summer. i don't know how to cook or do anything. it was chaos. i don't know if it was worse or better for them. tavis: [laughter] it might have been worse. >> they remember the smallest details. we all pitched in to get there. it was no big brother, little brother, we were all the managers of that apartment. her mom finally got her act together and got into subsidized housing. that was the end f
struggling. on top of the eurozone is a big market for u.s. multinational firms. so, it's no wonder that economist bruce kasman says it's really bad timing for a rate hike in europe. >> the euro area as a region delivers less in terms of growth as it could in helping the global economy, and then finally it adds risks and vulnerabilities to the really tough adjustments going on in greece and other peripheral countries right now. to be sure, a quarter of a percentage point increase in european rates tomorrow is likely to have only a nominal effect on u.s. growth. the concern is that the european central bank will proceed down a path of tighter monetary policy. >> the step that will be taken tomorrow by itself is not that big a deal, but the signal, if it gets realized in terms of further movements over the next six to 12 months, could have an impact in making it a little harder for the u.s. to get growth than it otherwise would. >> reporter: the good news is that buyers of u.s. stocks don't appear to be troubled by higher interest rates in other areas of the world. equity strategist a
, with the big board trading over one billion shares, nasdaq volume 2.4 billion. the economy worsened in about half the country in recent weeks due to weak home sales and signs of a slowdown in manufacturing. a federal reserve survey out today shows seven of the fed's 12 bank regions reported slower growth. and in another sign of new weakness in the economy, the commerce department says there were fewer orders of aircraft, autos, heavy machinery and computers last month. orders for durable goods fell by 2%. >> reporter: i'm diane eastabrook in orion township, michigan. still ahead, i'll tell you how general motors plans to make money selling this small car with help from the u.a.w. >> susie: can you say $1,630 an ounce? that's the new record for gold prices set today, before the precious metals encountered selling. in new york trading, gold futures lost $2 to settle at $1,617 an ounce. but, as suzanne pratt reports, gold prices could continue to shine on. >> reporter: at morningstar's jewelers and pawnbrokers in hollywood, florida, business is sparkling. but, it's business from customers looki
, the sharpest >>> issue one, too big to fail? >> i urge democrats and republicans in the senate to find common ground on a plan they can get support that can get support from both parties in the houses, a plan that i can sign by tuesday. >> okay, the economic stats n the second quarter of this year, april, may, june, the u.s. economy grew at a rate of that's 4/10 every 1% growth. question, are these statistics a bigger worry than the debt ceiling prevailing argument? pat buchanan? >> they're equally big worries, john. despite the fact the president had an $800 billion stimulus fed is triple the money supply, three deficits of almost $5 trillion, the economy is dead in the water this. that argues for a stimulus of a reaganite stimulus or obama stimulus, but there's who more tools in the toolbox here. on the other side you have the debt deficit problem, which $10 trillion in deficits, which argues for austerity. spending cuts, taxations, so you've got two in total conflict. the president inherited aaron economy, john, that i think the only way this thing will go forward is through the old stagfl
to the business, it's search! >> tom: corporate earnings season heats up with big numbers from google and a healthy quarter from j.p. morgan. it's "nightly business report" for thursday, july 14. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. almost $7 billion in sales equals another blockbuster quarter for google, a blowout beginning to earnings for technology companies. susie, internet search and search advertising continue driving the big profits at the web giant. >> susie: tom, google's earnings surged almost 40% and google stock soared as well, up over $60 or 12% after the closing bell. google earned $8.74 a share in the second quarter, about $1 more than analyst estimates. google continued its hiring blitz, adding 2,400 employees during the quarter. paid clicks, or the number of times internet users clicked on the company's ads, rose 18%, in line w
of favoring big corporate status quo and wall street even though in his heart of hearts, that is not what he believes. tavis: that may be a enough of an albatross to make sure that he does not get reelected. the first two well, he did not control. was all about law enforcement. the second was about congress, not necessarily the white house. it is the third one that could mess him up. he gets on the campaign trail, he can s u responsibility for the first two, can he not? >> the law enforcement part of that has been under his watch. it has and a lax effort. they have not been aggressive. but that's what the obama mentality of let's turn the page on tour -- if fits with the obama mentality of let's turn the page on torture. the dodd-frank, that is a shared responsibility. i wish the obama administration has taken more of a leading role when they were fighting on health care and pushing that forward. health care was taken by his opponents and used to demonize them and helped give him the congress that he now has. tavis: i am curious as to your take on this. how have the obama people so badly mis
the roof of the microsoft campus. this is second only to their headquarters. the big cities are already jammed and in the next 10 years, they expect the largest internal migration in history there is a downside to all of this gallup and growth and you can see it, a thicket ago, bikes dominated the streets. today, everyone would like a car. -- a decade ago, bikes dominated the streets. the government has limited car ownership but in that edict might be too little, too late. the growth model could derail all of the economic gains of the past two decades. and this is a part in the heart of shanghai. three years ago, this is little more than an urban jump that was left behind when the world expo site was left behind and gutted. kongjian yu is the founder of turenscape, one of the most acclaimed design firms. he is an advocate for environmental sustainability and was brought in literally to change the landscape. >> every contaminated water and soil. in china, 75% of the water. all of the major leagues in china and the rivers, this runs through the city's and they have been contaminated. we d
proof of that in big cities like shanghai and beijing. people are making money. chinese officials have moved 300 million people live there -- out of poverty into the middle class. despite recent concerns about inflation, the economy is thriving. china has more billionaires than any country other than the united states. feeding this economic boom is china's educational system. it has been criticized for not fostering independent thinking butted is also graduating hundreds of thousands of top students in science and math. that is why multinational companies like microsoft have established beachheads in china. why do you think the largest r&d campus outside of redman for microsoft is in china? >> talent. the amount of talent to lookout in china. every year, we graduate 6 million people. 1 million are in computer science and electrical engineering. things to do with information technology. it is different from the u.s. the best and brightest students work in engineering tavis: statistics like that -- like that make us uneasy. those footsteps are making for some restless nights in america.
. >> but the prime minister faces conflicting pressures. the big western powers want him to respect the tribunal. but hezbollah is a powerful force within his government. and it believes its members now face arrest and it wants the prile minister to reject the -- the prime minister to reject the whole legal process out of hand. this is the hezbollah leader speaking last year. >> mistake to think we were allowed arrest or detention of any of our fighters. any hand that will touch any of them will really be cut off. >> the truck bomb that killed rafik hariri triggered real change in lebanon. it led to mass protests that forced the departure of syrian troops from the country. but as the years have passed, the desire for justice has for some given way to fears that the search for the killers could lead to violent instability in the country. many lebanese do support the tribunal. they want to know who killed ravi -- rafik hariri but others are spirks. they say the tribunal is a tool being used by the western israel to hit out at their political enemies. owen bennett jones, bbc news, beirut. >> french
people about the health care crisis? >> that's a big question, and i would say what i learned and again many interviews. is a lot of the disparity of who gets what. and the gap between rich and poor is bigger than ever. and if you have a lot of resources, fantastic things can happen to you, and if you don't, you probably won't get that chance. and what i learned about america, and it would be impossible to think of it as a person. but what i see recurring, that hope is something that is a part of the american personality. this belief that things will be better and that we can make it better. tavis: hope even about an issue as contentious as health care, and i ask that when the debate was so ugly, and now that we pass it and don't know how much congress will try to roll back what happened. let me ask you what the debate as we sit here today? >> i don't think that the debate is helpful, and they should be but this one isn't. and the democrats admit when it first got rolled out it wasn't explained well. and i think that the debate is causing more confusion, and now i will make my plug for
a big admission because the government has tried to manage this illness. the president has let information out here and there, but no great disclosure. this speech by the president somewhat unexpected and very serious. it was very obvious from watching it that he has had some serious health problems. he lost a lot of weight. his voice is much weaker than we are used to hearing. very clear that he struggles. now he has made it public, hoping the public will back him. >> what do we know what about the medical condition he is suffering from? >> well, we were told several weeks ago that he had to undergo emergency surgery while on a visit to cuba for a pelvic abscess. there was medical silence since then, nothing else about his condition or what he was suffering, just the government saying he was in the recuperation. this evening, he came out himself and said while he was in recuperation, doctors did find cancerous cells. that meant they had to give him under the knife again. he did say that the removal of the tumor was completely successful and he did stress that he was on the roa
anger. several big companies have decided not to place advertisements in the paper. our business editor has studied the impact on rupert murdoch's business. >> news corp., for decades a towering elephant of the global media, created and led by rupert murdoch, is facing a grave threat. ford, but to be she, and other big companies with big brands have said they will not advertise in the news of the world this weekend because they do not want to be associated with the shocking revelations about how the newspaper obtained stories. the owner of the news of the world, news corp., had their share price fall 4%, a reputation of crisis that could become a financial problem. news corp. wants to buy the 61% of british sky broadcasting it does not already own, but my sources tell me they have taken the view that news corp. would have to pay 9.6 billion pounds for the british sky broadcasting shares. following this news today, the media regulator says it has a duty to be satisfied that the holder of the broadcasting license is fit and proper. there is a risk it could be brought or unscrambled. b sky
is 1.6 trillion pounds. if italy wants trouble, it is too big to be rescued. -- if italy gets into trouble, it is too big to be rescued. italy has world famous vans. what it lacks is low productivity and low growth. some of those who opposed to de's austerity package fear that without growth, italy cannot escape its problems. >> yes, we need to get the debt under control, but this package is not enough. you have to promote growth. in autumn, will be back to square one. >> financial markets also remain wary. most of the savings will not take effect until 2013. italy's borrowing costs are not just high, but close to being unsustainable. the austerity package will be in italy's lower house tomorrow. it is expected to be passed. the real focus remains away from here in greece. there are still deep divisions over how to organize a second bailout for that country. >> kenya's prime minister has promised that a new camp for refugees across the border from the conflict in somalia will now open. the un built the camps in kenya last year. it was intended for emergencies with houses rathe
weeks. >> susie: detroit's big three automakers registered double digit sales gain in june, but japan's top two carmakers are still struggling. sales popped 10% at the nation's biggest auto maker general motors. ford sales rose 13%, but chrysler was the big winner: up 30% thanks to a batch of new models, including the newly redesigned dodge durango and the fiat 500. toyota and honda both post sales declines of more than 20%. korean automakers gained ground: hyundai up 16%. kia 41%. senior editor joe wiesenfelder says their small cars are in demand. >> yes, i do believe that hyundai and kia are taking advantage of some of the shortages in supply from honda and toyota. people that might have considered japanese might be willing to look at a korean manufacturer. generally speaking though, i think that hyundai and kia are doing well because they've been doing great work recently. they just keep adding more and more strong products. >> susie: while small, fuel efficient cars were top sellers last month, the recent drop in gas prices helped fuel an increase in truck and s.u.v. sale
! why is he introducing it? >> i think the president is acting in good faith. i think he wants a big deal. i think he will take cuts that contracts won't want and take taxes. because his presidency and the future of the country -- he believes -- [everyone talking at once] >> socialistic. that what you're saying. >> vaguely socialistic, yes. >> when they came out with the report he said -- >> what is that report? >> that's a report that deals with the long-term deficit problems of this country. >> they recommend taxation, do they not. >> they had a whole series of recommendations, and the president said i will stand by what they did, except they're still waiting for him to stand by them. >> he's never taken it seriously, in not in his budget, not in his budget state, know when bowl simpson came city. not when they wanted a clean debt limit increase. so that he is winning a debate over the fiscal future of the country is astonishing! and. >> but he's keeping something else off page one! what is it? >> this is a genuine. >> the unemployment problem? it doesn't even figure in this. >> co
%. >> susie: there is this perception that women do not make strong leaders in big companies. you know, and there's this glass ceiling. why do you think that is? >> certainly there were barriers along the way. and certainly, i mean, having three kids, you know, i could've chosen a different route. but i love what i do. and i love the company. i found great acceptance by, you know, the... the men that preceded me, and... and i've... i just think that you have to have, if it's your passion, you know, then you've got a shot at it. >> susie: ilene lang, head of a group that monitors the status of women in business says that's not the way it usually works. that's why women head only a dozen fortune 500 companies. >> i say to people, close your eyes, and picture a business leader. and most people picture a man. they don't picture a woman. so it is hard for a woman to break into that top leadership when people expect that she's not good at it, even when performance proves that-- to be different. >> susie: and, lang says, women are more often directed away from the executive suite. >> women ar
million shares moving on the big board and 1.75 billion on the nasdaq. still ahead, our "word on the street" is "gold." alix steele of explains what record-high gold prices tells us about the debt ceiling debate and the future of the yellow metal. >> susie: if the nation's credit rating is lowered, there would surely be a ripple effect. interest rates on everything from mortgages to student loans to car payments would rise. and as erika miller explains, even americans who don't borrow or invest will still feel the sting. >> reporter: open your wallet and look inside. if you own any of the 700 million credit cards used in america, you have a stake in washington's debt negotiations. unless lawmakers reach an agreement that satisfies ratings agencies, the u.s. cod lose it's triple-a badge of honor. that would raise borrowing costs for uncle sam. it would also mean higher rates for people who have home loans, car loans, and student loans, as economist bob brusca explains. >> if you have anything that has an interest charge attached to it, chances are it's a variable
than ten minutes so i'm not quite sure. i'll give you the big thing. this evening by a vote of 218-210 the house of representatives approve a republican plan and that would raise the debt limit by $900 billion initially then another $1.6 trillion sometime in early 2011, but it is all linked to a balanced budget amendment which, of course, the senate says is doa on arrival. and, in fact, they voted and basically said it's doa and on arrival. in the senate a democrat plan will be voted on tomorrow and the republicans in a sense are saying they will vote tomorrow to say it's dead before it even gets here. you can see these adults are really getting along with each other. but the reality of the situation is we are no closer to a deal. in fact, arguably, we're farther from a deal. for the last six days, the stock market has gone down 500, 600 points, and monday if there's not a deal, we might see the market go into some sort of a panic. that's a real possibility because the bad news would flow from that would just be incredible. now, the big problem is that if this happens, the credit o
talks say the most likely option is what could be called "big deal lite." it would include initial spending cuts in the $1 trillion range, enough to extend the debt limit by at least six months. lawmakers would spend that time working on a tax reform that would increase revenues, and additional cuts in entitlement programs like medicare, medicaid and social security. together, that would trim $1 trillion to $2 trillion more from the deficit. if those talks fall apart, the fallback is a short-term debt limit extension. but the white house opposes that, calling it bad for the economy. >> it only furthers the uncertainty that is already a drag on the economy, the doubt about whether or not washington can get its act together. >> reporter: it is clear the prospect of default is beginning to concentrate minds. tea party favorite allen west today tried to tamp down investor concerns. >> i don't think we're going to have to worry about the armageddon scenario that everyone tries to hang over the heads of the american people. that's very frustrating for them, that's very frustrating for me
in the future. >> susie: let's talk a little. we were talking to a big institutional shareholder who is very concern body the outlook for this stock. would you buy news corp at $16. is this an opportunity for investors, or is it too risky? >> near term with the $5 billion share buy back that mr. murdoch announced tuesday that begins on august 5th, i think near term, it's probably a buy at news corp, but long term, you have to wait until the dust settles. there's too much uncertainty, and potential liability that the company and senior managers are facing. that want to invest long term. >> susie: there was an article in "newsweek" written by carl bernstein under the title, murdoch's watergate and saying that this is the beginning of the end of the murdoch empire. your thoughts on that. could that be the case? >> i don't think the empire is going to crumble any time soon. but what i think we are seing is perhaps an end to the celebrity type cuture ta inculcated journalism on both sides of the atlantic and has been mainly stimulateed and driven by the murdoch approach to get the news at any cos
," and there's a big photograph of the hearing ipts. there's murdoch touching his son on the arm and wendy in the background looking contrite. the c.i.d.ny any morning her -- sydney morning's headline is "they were shocked, appalled and shamed that murdoch is denying blame." you have a photo of murdoch and his son looking grim and wendy sitting behind looking none to -- too happy. when you get into the coverage, the lead is the following sentence "rupert murdoch aaccused his commercial rivals in britain of whipping up a stir of the wrongdoing for their own commercial reasons. ." >> we're going to have to leave it there but thank you very much. it's very interesting to see how it's been -- being reported there. professor knight. we just want to show you some of the headlines that are coming up for us here. "murdoch's humble pie." that seems to be be -- the predominant headline on most of the u.k.'s papers. reference to him stating it was the most humbling day of his life. and a photograph of the protestor with the plate of foam and much being said about his wife who defended him by slapping
the beginning of july, bank of america is down 11%. the big loser of the dow was united technologies, the company behind otis elevator, carrier air conditioners and pratt and whitney jet engines. shares fell almost 2% on heavier volume. two weeks ago this stock was at an all-time high. earnings were strong and the firm raised its forecast. its chief financial officer say they're seeing a broad-based recovery. a couple of merger stories. clorox regained more than 2.5% as investor carl icahn increased his buyout price to $80 per share. that's now what he's offering. earlier this week, clorox said no to an offer of $76.50 per share. the stock here continues trading below even that lower offer as the market seems to be skeptical of a deal. meantime, it is a deal for chemical company nalco. the offer is $38.50 from eco- lab. shares jumped more than 24% on big volume but settled below the purchase price. part of that difference can be explained by the drop in the stock of the buyer. since it is offering either cash or stock, a drop in its price can impact the buyout price. shares fell 7%.
by the loyalists heavy artillery. just a couple of big towns now stand between them and the road to tripoli. this is not a regular army. it often seems like quite a sleepy little war. >> rebels do seem to have some forward momentum at this part of the front line at least. they need weapons, ammunition and money. for ordinary fighters, the focus is on the next battle. if all goes to plan, this will be in the small town nearby. the rebels some and the tribal leader there. they told him he had 48 hours to evacuate civilians before the assault. the rebels are confident. they believe things are going their way. at the first sound of gun power, they complacently assure us it is just their own a man -- their own and having a bit of target practice. it was in fact government loyalists in a surprise attack. it is a nasty shock for inexperienced troops. a spot vehicles moving towards them. they realize -- they spot vehicles moving towards them. they realize they're being surrounded. with frightening rapidity, the rebels front line collapses. we run. so does everyone else. they held a few miles down t
and syria made a big difference last week when he went to the city of hama during mass demonstrations there. he used human shields according to some, and triggered the embassy attack. >> secretary clinton's message was the strongest by far but that the united states has sent, but it still fell short of calling him to step down. it is a constellate very difficult to get out of. president assad must know that the president -- that the united states will be wary of him in syria. >> the scale of the uk phone hacking scandal is enhanced by new evidence that shows that security for queen elizabeth and other members of the royal family has been put risk. if the bbc has learned that according to company e-mails, the news of the work was paying of royal protection officer for information. there was a director of royal contacts, including royal household staff. four other developments, they tried to obtain details of the former prime minister gordon brown's finances, and that the newspaper tried to access medical information about one of his children culminated an act rupert murdoch's bid for b sky b
of the most powerful yet controversial characters in afghanistan. this is seen as a big blow to the fragile security in the southern kandahar area. people have killed four people in northwest italy. a human rights groups said that four were killed when the troops attack villages in the region. an iranian man was arrested at bangkok international airport as he attempted to smuggle $1.6 million worth of methamphetamine into the country. the drug had been disguised as a work of art weighing up to 10 kilos each. another day of high drama of the phone hacking scandal. every minute something new is happening. news corp. has withdrawn its controversial bid for a full takeover of the british broadcaster bskyb. this came shortly before the british parliament began a debate on the phone hacking scandal. >> rupert murdoch's in the news for the wrong reasons. this is one of the great humiliations' for his career. "we believe that the proposed acquisition of bskyb would benefit both companies. it is too difficult to progress in this climate." there was protests inside and outside of the deal. >> i have
the administration has done. paul krugman and others have suggested that it was never big enough from the start. the white house cut a deal and they thought they could get through even when they controlled both houses of congress. >> right. a couple of things. let's remember that it barely got through. there was not a lot of margin. that is related to the second point. i am sympathetic as a peer of economists to the notion that it should have been there. -- i am sympathetic as a pure and economist. it did not look obvious that say a trillion dollar stimulus could have gotten through the congress even though both congress is had democratic majority. -- both houses had a democratic majority. the number kept changing. it was 787 and now it is estimated to be 850 as more data came in. this is not at all obvious that we had gotten bigger. what is obvious is that we could have made it better. this is lost to history now, but you might remember in return for almost no republican votes, no matter what it was, the president gave over about 250 billion, about 1/3 of the stimulus. this was in the spirit o
big to be rescued. italy has impressive designers and world famous brands. what this masks is low productivity and low growth. some of those who opposed the yesterday package fear that without growth, italy cannot escape their problems. >> we need to put this on the table but this is not enough. you cannot put that if you do not promote growth. we will be back to square one. >> of financial markets also remain wary. most of the savings will not take effect until 2013. italy's's costs are not as high but close to being unsustainable. costs are borrwing not as high. the real focus remains so way from here increase stand there are still deep divisions over how to organize a second bailout. -- the real focus remains far away from here in greece. >> a new camp for refugees fleeing across the border from the drought and conflict of somalia will open. the one built a camp in kenya last year. this was intended for emergencies. officials said shut -- officials shut this down. they would now open it with in the next 10 days. >> time is the best since in this matter. -- time is of essence in
to raise her son by herself, and her son goes on to tell a big lie. he goes to a new school, and he tells everyone at school his father died in 9-11 rather than just of a heart attack on their lawn, and my character perpetuates this light, and then inflows of in our faces. >> and -- it blows up in our faces. tavis: i am always curious about what draws people to this project. what drew you to it? >> this is very different from the tapam. she is kind of a train wreck. she is very bad about predicting consequences of her actions, so she will tell a lie because it is convenient at that moment, but she does not think about how it is going to affect her down the line. i am the complete opposite about it, very deliberate. i love spreadsheets and five- year plans, so it felt fine to play somebody so different from myself. tavis: i assume that is what the challenges in trying to pull this off. >> i had to really let go of all those desires that need to control my life and situation and where i am going, because this characters in things are completely different from my instincts. >> did the charac
anger. now, several big companies including the halifax virgin holidays and -- have decided not to place advertisements in the news of the world this weekend. >> news corporation nor decades, a towering edifice of the global media, created and led by runnest murdoch, confronts a -- by rupert murdoch, confronts a grave threat. ford, mitsubishi, other big companies with big brands say they don't want to advertise in the news of the world this weekend because they don't want to be associated with the shocking revelations about how the newspaper obtained stories. for news corporation, owner of skr news of the world" whose share price fell almost 4% today a reputational crisis looks like it could become a financial problem. rupert murdoch's news corporation wants to buy the 61% of british sky broadcasting it doesn't already own. now, my sources tell me that bieb's scored had taken the view that news corporation would have to pay around 9.6 billion pounds for the b sky b shares. the media regulator, it has a duty to be satisfied that the holder of a broadcasting license is fit and proper, ther
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